TCS Secures 15-Year Contract for Ireland's My Future Fund

30 Oct 2024 , 11:54 AM

Tata Consultancy Services (TCS) announced a significant 15-year contract with Ireland’s Department of Social Protection on October 29, 2024.

The contract involves implementing and supporting Ireland’s new auto-enrollment retirement savings scheme, ‘My Future Fund.’ The initiative aims to provide a comprehensive digital solution for the automatic enrollment of approximately 800,000 workers in Ireland.

TCS will utilize its TCS BaNCS platform to manage the scheme, ensuring seamless enrollment, record management, and benefit disbursement. Services will be delivered through TCS’s Global Delivery Centre located in Donegal, Ireland.

Heather Humphreys, Ireland’s Minister for Social Protection, emphasized TCS’s relevant experience in managing similar services in other countries, including the UK.

TCS has previously managed the UK’s National Employment Savings Trust (NEST) since the digital auto-enrollment scheme launched in 2011, supporting over 13 million workers.

Vivekanand Ramgopal, President of BFSI Products & Platforms at TCS, highlighted the company’s commitment to enhancing the pension system’s accessibility, transparency, and efficiency for Irish workers.

Deepak Chaudhari, TCS’s country head in Ireland, expressed enthusiasm for contributing to this project of national importance, showcasing TCS’s deep contextual knowledge and innovative solutions.